The Real Deal New York

Jeff Sutton pays $86M for Lower Fifth Ave. retail co-op

Less than a month after purchasing the Crown Building, Jeff Sutton’s Wharton Properties Has Purchased A Lower Fifth Avenue retail co-op near Union Square for $86 million.

Anthropologie currently takes up the entire 12,946-square-foot space at 85 Fifth Avenue, which is split between a ground level with 15-foot-plus ceilings and a basement. The womenswear and home goods retailer holds the lease until 2021, Crain’s reported.

Lower Fifth Avenue has become a busier shopping destination in recent years, with Eataly at its northern end and newly renovated J. Crew and Club Monaco stores to the south.